Changing regulations are putting the island and its businesses under the microscope more than ever before, say the organisers of a forthcoming conference

The Manx State of the Union annual event will put the spotlight on risk and compliance and will be aimed at executives and professionals working in those areas.

The all-day gathering will comprise presentations featuring regulators, executives and risk and compliance commentators from on and off-island who will discuss a number of ’hot topics’.

The conference is being organised by the Alliance of Isle of Man Compliance Professionals (AICP) and will be held at the Comis Hotel, Santon, on February 7.

Steve Billinghurst, advisory director at PwC in the island said: ’We are thrilled to be both sponsoring and participating in the island’s premier annual conference.

’Our continued support of the conference demonstrates how we work together with the AICP, and its members, to promote and strengthen the standards of compliance on the Isle of Man.

’Evolving international regulation places the Isle of Man and its businesses under the microscope more than ever before and local enforcement action makes the cost of non-compliance even more tangible.

’It will be extremely beneficial to contribute to this event and hear the views of several leading risk and compliance professionals.

Kath Quayle, advisory senior manager at PwC Isle of Man will be presenting on the subject of ’The widening scope and application of risk management’, touching on the evolving risk management drivers, themes and responses.’

Graeme Snape, AICP chairman, said: ’Our annual MSoN conference brings a day of insightful subjects relevant to the island’s current and foreseeable future.

’As we enter our 15th year of hosting the conference, the agenda for 2020 is set to be another informative event, helping delegates with changing regulations and the potential for conflict arising between and across regulations.

’We are joined by a host of specialist speakers who will deliver their current thoughts and insights in their respective fields in various sessions throughout the day that will continue to shape our business and economic future.’

Chief minister Howard Quayle will be giving an address during the event while Sinead O’Connor, head of regulatory and compliance services at DQ Advocates will speak on ’10 reasons why compliance fails’.

Another speaker will be Martin Woods, former head of financial crime at Thomson Reuters.

His presentation will be entirtled: ’Wachovia, whistleblowing and the state of AML (anti money laundering).

Speakers from the Financial Services Authoity are also due talk about ’key themes from supervision.’

Attendees will have an opportunity to raise any questions during the day.